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The rush to raise new infrastructure funds by private equity firms continues, as India Axis Bank's private equity unit has closed a new $148 million infrastructure-targeted vehicle.
Reuters reports that Axis Private Equity will deploy the fund
into companies that build transport, irrigation, energy networks and
hotel developers, and that half of the capital has already been
invested. The second most populous country on earth, India's federal
government estimates that more than $500 billion in infrastructure
investment will need to be before 2012 to modernize its power and
transport networks.
Private equity firms have already secured upwards of $9 billion in capital for infrastructure funds in April alone. Goldman, Sachs & Co. led the way with a $7.5 billion infrastructure fund, joined by 3i Group plc's $1.2 billion 3i India Infrastructure Fund and a $950.4 million limited partnership for Credit Agricole Private Equity. Also out raising capital for infrastructure funds are Citigroup Inc., which is marketing a $5 billion infrastructure fund, and Macquarie Capital Group Ltd. and State Bank of India, which recently unveiled plans to co-raise a $2 billion infrastructure fund. - George White See Reuters story See Dealscape post infrastructure funds See Dealscape post on Credit Agricole fund See Dealwatch on PE and VC fundraising Categories Deal Video
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